Blog Post

Workers' Compensation Settlements

Posted by: Michael Kaplan
September 03, 2008
Topic: Workers' Compensation

What does it mean to settle a workers' compensation case in Colorado? Injured workers are often approached by the workers' compensation carrier to settle their case. The majority of the time, what it means to settle one's case is to waive future potential workers' compensation benefits. In exchange for that waiver, a certain sum of money, over and beyond the Permanent Partial Disability benefits that may be owed, will be paid. One must beware of this tactic as the insurance carrier is attempting to save itself money on the claim. Unfortunately, persons that are injured at work are often not properly advised. Therefore, the injured party gets taken advantage of by the insurance carrier because the money offered is lower than the actually worth of the waiver. My advice to any person that is injured on the job and that is approached by a carrier to settle their claim, whether it is early or late in the claim process, beware of doing such as it may place you and your family in peril. The carrier may seem to be working with you by dangling a carrot in front of your nose, but that carrot can be poisonous.